Serbia is considering acquiring a minority stake in Hungary’s Paks 2 nuclear power plant, which officially entered the construction phase last week. The potential investment, estimated between 5 and 10%, is part of broader discussions on enhancing long-term regional energy security.
The Paks 2 project marked a key milestone in early February with the pouring of its first concrete, transitioning from planning to full-scale construction. Hungarian authorities present the new nuclear units as central to national energy independence, designed for at least 60 years of operation, with the possibility of an extended lifespan.
Experts in Serbia view a minority stake not just as a financial move but as a strategic step, signaling Serbia’s renewed engagement with nuclear energy after decades. Even a modest share would integrate Serbia into Europe’s nuclear ecosystem, potentially supporting domestic expertise, workforce training, and public acceptance of future nuclear projects, though it would not guarantee full energy independence.
Analysts emphasize that regional investments cannot replace domestic capacity. Long-term planning would likely require Serbia to develop its own nuclear facilities, possibly combining large conventional reactors with smaller modular units, making participation in Paks 2 a complementary step rather than a substitute.
Serbian officials, including President Aleksandar Vučić, have previously expressed interest, citing discussions with Hungarian Prime Minister Viktor Orban. The potential investment was informally valued at around 150 million euros. Supporters in Hungary highlight that expanded nuclear capacity can reduce natural gas reliance and lower carbon emissions, with benefits extending beyond national borders.
No timeline has yet been announced for a final decision on Serbia’s participation or the size of the stake, reflecting the complexity of nuclear investments and their growing role in regional energy strategies.
